Adam Schefter of NFL Network reports that the Seattle Seahawks have signed backup quarterback Seneca Wallace to a three-year, $5.4 million contract.
The contract increases his 2007 salary from $800,000 to $2 million. Also, Wallace is due to receive a $400,000 roster bonus in March. If the team chooses not to pay it, Wallace will be an unrestricted free agent.
So, basically, Wallace gave up his ability to hit the market for $1.6 million, since he otherwise would have been an unrestricted free agent after the season.
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